This was inevitable. Aditya Birla Group Chairman Kumar Mangalam Birla has finally announced an Investment to the tune of Rs 500 crores in the coming 6 months. Birla would be setting up a Cement Unit in Bihar.
The company is yet to decide over the final location , but Birlas are actively hunting for a well suited location .
Aditya Birla Group as a cement producer occupies 7th and 11th ranks in Asia and World respectively. They are the makers of brand Ultratech, Birla Cement, Birla Shakti and Birla White Cement
A US $35 billion corporation, the Aditya Birla Group is in the League of Fortune 500. It is anchored by an extraordinary force of over 133,000 employees, belonging to 42 different nationalities
Mr. Birla was speaking in a plenary workshop of the theme ”Transforming Bihar: Achievements, Opportunities and Challenges”.
Stating that Bihar stands on the cusp of development, Birla complimented CM Nitish Kumar for transforming challenges into opportunities, but expressed his concern over the low CD ratio of only 32.2% in the state. Against deposits of Rs 99,000 crore, the credit stood at Rs 22,000 crore. Banks need to lend more.
He also said that government must encourage private investment in education and infrastructure, and praised the state’s new industrial promotion policy. He also called for speedy approval of projects.